Some background Knowledge you may require depending on the group you are working with:
1. An understanding of how charities/community groups are set up and governed.
2. Understanding of Fund Accounting
3. Understanding of the Charities Accounting – SORP and SOFA
4. Understanding of the different ways groups generate income e.g. Funding, Service Level Agreements, Contracts, Donations , trading etc
5. Gift Aid
6. Charities VAT and Taxation
7. Useful to know Excel, Sage, Quick Books, MYOB, TAS, Sun Accounts (these are the ones most of the groups I have come across use)
8. Understanding of full cost recovery of costs and cost allocations/apportionment
9. Understanding the difference between independent examination and audit
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